Do you have what it takes to start a business?

Nominate a Top Woman in Business. Click here. Nominate an NEPA business professional under 40. Click here.

20 Under 40: JenniferDessoye

Photo: N/A, License: N/A, Created: 2016:11:17 11:10:02

Dr. Jennifer Dessoye is assistant professor of occupational therapy at Misericordia University and owner of Bright Beginnings Early Learning Academy (BBELA). Discontent with the early education curriculum and understanding of human development and neurolo (read more)

20 Under 40: Amy Hlavaty Belcher

Photo: N/A, License: N/A, Created: 2016:11:09 13:55:46

Amy Hlavaty Belcher, 39, owner and artistic director of Abrabesque Academy of Dancing, believes that for those who have been given much, much is expected. “I just try hard to do my best,” she said. I have been blessed with many opportunities and many gift (read more)

20 Under 40: Christopher Hetro

Photo: N/A, License: N/A, Created: 2016:11:14 11:21:35

Chris Hetro, 33, works hard and plays hard. “A strong work ethic is important, but finding balance outside of work is important because life is too short and you need to enjoy it,” he explained. As an electrical engineer and project manager at Borton-Laws (read more)

20 Under 40: C. David Pedri

Photo: N/A, License: N/A, Created: 2016:11:14 15:19:17

For attorney C. David Pedri, 37, it’s all about a combination of qualities that contribute to success. “My philosophy is simple: be open and honest, treat people the way you would want to be treated, with respect, and work hard to attain your dreams. The (read more)

20 Under 40: Ed Frable

Photo: N/A, License: N/A, Created: 2016:11:09 11:13:04

Ed Frable, 28, believes “if I work hard and stick to my word, good things will happen. My crew will not be deterred. We will re-evaluate our game plan and not give up until the job is complete,” explained Frable, the owner/operator of Ed Frable Constructi (read more)

20 Under 40: William H. Bender II

Photo: N/A, License: N/A, Created: 2016:11:16 13:11:08

William H. Bender II, CFP, CIMA, CRPC, loves what he does. “I’m lucky. I come to work every day excited to help the people and institutions we work with,” explained Bender, 34, first vice president at Bender Wealth Management Group, Merrill Lynch. The fam (read more)

20 Under 40: Angelo Venditti

Photo: N/A, License: N/A, Created: 2016:11:14 16:09:11

Angelo Venditti, 38, heard a call to the helping professions early on. Geisinger Northeast’s chief nursing officer answer was to volunteer for his local fire company. After high school, he became a paramedic, then enrolled in nursing school. Three years a (read more)

20 Under 40: Donald Mammano

Photo: N/A, License: N/A, Created: 2016:11:17 12:38:37

At 20, Donald Mammano began his own company, while attending the University of Scranton. Mammano, now 33, and president of DFM Properties, recalls, as a youngster, holding a flashlight while his father fixed the kitchen sink. “From that point on I was fas (read more)

20 Under 40: William J. Fennie III

Photo: N/A, License: N/A, Created: 2016:11:15 09:50:19

William J. Fennie III, 27, is always knocking on the proverbial door, because he knows one day, one will open. As an investment specialist with Integrated Capital Management (iCM) he cannot take “no” for an answer. “I make cold calls every day to invite f (read more)

20 Under 40: Marcus Magyar

Photo: N/A, License: N/A, Created: 2016:11:14 13:25:24

As an advisor at CAPTRUST Financial Advisors, Marcus N. Magyar, CFP, 30, provides comprehensive wealth management and investment portfolio services to business owners, executives, families and high-net worth individuals. His multi-disciplinary team of pro (read more)

20 Under 40: Heather Davis

Photo: N/A, License: N/A, Created: 2016:11:10 13:34:44

Heather M. Davis, 33, director of marketing and communication, is responsible for creating, overseeing and implementing a strategic marketing and comprehensive communications plan for The Commonwealth Medical College (TCMC). She is also responsible for pr (read more)

20 Under 40: Alexandria Duffney

Photo: N/A, License: N/A, Created: 2016:11:14 14:24:50

Alexandria Duffney, 30, is competitive by nature and loves a good challenge. These qualities have led her to her position as associate director of graduate admission at Wilkes University. Here she works with prospective students interested in enrolling in (read more)

20 Under 40: John Culkin

Photo: N/A, License: N/A, Created: 2016:11:07 17:18:26

John Culkin’s tenets inform: “Less haste equal more speed; the same boiling water that softens the potato hardens the egg, it is all about what you are made of, not the circumstances surrounding you; and don’t ask someone to walk a mile in your shoes, bef (read more)

20 Under 40: Conor O'Brien

Photo: N/A, License: N/A, Created: 2016:11:14 17:19:58

“What could be worse than getting to the end of your life and realizing you hadn’t lived it,” mused Conor O’Brien.” As co-founder and executive director of the Scranton Fringe Festival, O’Brien, 25, is responsible for leading the development of the overal (read more)

20 Under 40: Jessica Siegfried

Photo: N/A, License: N/A, Created: 2016:11:10 14:12:08

Jessica Siegfried, 38, is senior designer with BlackOut Design Inc., where she is responsible for all creative design at the full-service agency, from traditional branding and print to collateral and front end web design. “I’ve always had an interest in t (read more)

20 Under 40: David Johns

Photo: N/A, License: N/A, Created: 2016:11:08 10:15:37

David Johns’ career path has been shaped by his diverse experiences. As director of structural engineering at Greenman-Pedersen Inc., Moosic, Johns, 39, ensures that his engineering and consultant teams provide clients with their best effort. “We complete (read more)

20 Under 40: Robyn Jones

Photo: N/A, License: N/A, Created: 2016:11:14 12:41:32

Robyn Jones, 38, president of ReferLocal LLC, has learned just as many lessons from her business successes as she’s had from her failures — and she believes it’s important to share that knowledge with her employees. After graduating from American Universi (read more)

20 Under 40: Nisha Arora

Photo: N/A, License: N/A, Created: 2016:11:14 10:02:06

Nisha Arora, 36, tries to be the best version of herself every day. As general counsel for ERA One Source Realty Inc., she realized she cannot control other’s behavior so “I try to focus on myself and how I can be better,” she explained. Arora’s responsib (read more)

20 Under 40: Justin Sandy

Photo: N/A, License: N/A, Created: 2016:11:10 14:59:27

Starting at a young age in Hazleton, Justin C. Sandy, 33, found a passion for running. He became a member then a coach for Misericordia University’s cross country and track and field programs. “It was at Misericordia that I also garnered the profound sati (read more)

20 Under 40: Dr. Ariane Conaboy

Photo: N/A, License: N/A, Created: 2016:11:16 09:38:07

As a doctor of internal medicine at Physicians Health Alliance, Dr. Ariane M. Conaboy, 34, realizes the importance of human life and how fragile it can be at times. Conaboy graduated from Scranton Prep and the University of Scranton with a double major in (read more)

Find us on Facebook!

Photo: N/A, License: N/A

"Like" us on Facebook for all of the latest news! (read more)

Follow us on Twitter!

Photo: N/A, License: N/A

Follow us for constant updates! (read more)

Photo: Jason Farmer, License: N/A, Created: 2017:08:18 16:19:45

Carbondale's newest pizza shop sets national record

CARBONDALE — It was only 4 p.m., a little early for a dinner rush, but the pickup line at Carbondale’s newest pizza place was already eight customers deep. (read more)

Article Tools

Font size
+
Share This
EmailFacebookTwitter

Photo: N/A, License: N/A, Created: 2012:09:24 21:15:17

ESSA corporate headquarters

Photo: David W. Coulter, License: N/A, Created: 2015:09:15 10:42:04

Hutchins

By Christine Fanning

You want to start a business and you have the need in mind that you want to fill. As an entrepreneur you are willing to take on the financial risk to realize your dream, and the lifestyle sacrifice of an entrepreneur with no paid vacations, benefits or retirement funds are hurdles you are sure you can withstand. Where do you begin, and how can you raise the money you’ll need to make your dream a reality?

First, consider the 20 questions that the The Small Business Administration has constructed to determine if you have what it takes to become an entrepreneur. You can find the questions on the SBA website at sba.gov/starting-business/how-start-business/20-questions-starting.

If your answers convince you you’re on the right track, you will also have some of your research done, which is a starting point, according to Lisa Hutchins, commercial loan manager for ESSA Bank & Trust, headquartered in Stroudsburg.

A business plan continues the analysis, projects the goals of your company several years into the future and sketches out how revenue will be grown. It also describes your potential business and the factors that make it different from other enterprises, Hutchins noted. Also, it’s vital for your appointment with the loan professionals at your bank.

“You need to be prepared,” she said. “Do your legwork and research. Identify your needs and the use of your funds. Are you buying property and equipment? What’s the cost?”

In today’s political climate people are still opening businesses and policy is talked about on news shows and in boardrooms. Entrepreneurs must understand how legislation, as democratic administrations change, can affect their plans.“There are always risks,” Hutchins said. “Know the economic policy and recognize the risks.”

Financing “the dream” is challenging in any economic situation and borrowing from family and friends offers entrepreneurs quick, start up cash especially for business people without a strong credit record. Hutchins said that if a start up is financed this way, the entrepreneur and financier should draw up a formal agreement to bypass any trouble down the road.

The Small Business Administration offers loan programs for specific purposes and Small Business Development Centers like the SBDCs at the University of Scranton and Wilkes University provide educational programs and no cost, confidential, consulting services to entrepreneurs looking to start a small business or grow an existing small business in Northeast Pennsylvania. SCORE chapters (northeastpennsylvania.score.org) are a valuable asset to entrepreneurs, Hutchins said.

It’s important to note that SBA loans are vetted and made by lenders that comply to SBA principles. ESSA, for one, makes small business loans and offers a full-line of business lending products including commercial lines of credit, municipal government loans, commercial letters of credit, commercial and industrial term loans, commercial construction mortgages and commercial construction-to-permanent mortgages.

To assist in the process of securing a business loan, security in the form of real estate or equipment will make your credit relationship with the bank less of a risk, “You do need equity,” Hutchins said. It varies, but 20 percent is generally the amount required.”

If she could give any stronger advice it would be this: “Be committed. You have to know that this is on your shoulders and you have to be able to do things for yourself. Ask for help when you need it.”

For more information, contact Lisa Hutchins at ESSA Bank & Trust at 570-422-0198.

We welcome user discussion on our site, under the following guidelines:

To comment you must first create a profile and sign-in with a verified DISQUS account or social network ID. Sign up here.

Comments in violation of the rules will be denied, and repeat violators will be banned. Please help police the community by flagging offensive comments for our moderators to review. By posting a comment, you agree to our full terms and conditions. Click here to read terms and conditions.